Bupa's growth in South continues

International aged-healthcare company Bupa is continuing its
southern expansion, having received Overseas Investment
Office approval for its $4.18 million purchase of land in
Invercargill.

Bupa has bought a 1.34ha property in Cargill St, which
includes a retirement village and elder care business, and
intends to convert half the rest-home beds for dementia care.

While UK-based Bupa flys under the radar much of the time, it
and listed competitors Ryman Healthcare, Metlifecare and
Summerset have all embarked on large-scale expansion during
the past five years, as the percentage of the ageing
population increases.

In June, Bupa bought Oceania Group facilities in Taranaki,
Dannevirke and Pahiatua, including two integrated care home
and village facilities and one stand-alone care home, plus
another rest-home facility in Invercargill.

Last week, Ryman Healthcare, the country's largest retirement
village operator, unveiled plans to build a new $100 million
facility in Pukekohe on a 6.58ha site, which it hopes to open
next year.

The village will include two- and three-bedroom independent
townhouses, apartments and an aged care centre which will be
a rest-home, and offer specialist dementia and hospital-level
care.

Bupa has said in the past it has no shareholders, but
reinvested money to provide better healthcare for customers
and also supported health charities.